Waaree Renewable Technologies Limited (WRTL), a key player in India's renewable energy sector, has announced a significant expansion in the scope of its ongoing solar project. The company, known for its expertise in Engineering, Procurement, and Construction (EPC) of solar projects, has received an updated scope for its massive 2012.47 MWp ground-mounted solar PV project.

Project Expansion and Financial Impact

The expanded scope has resulted in a substantial increase in the order value. According to the company's disclosure:

• The order value has increased by Rs 296.50 million
• This addition brings the total order value to Rs 15100.60 million, excluding taxes

Project Details

Disclosure and Regulatory Compliance

WRTL made this announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company received the intimation of the expanded scope at 10:12 a.m. (IST).

Company Background

Waaree Renewable Technologies Limited, a subsidiary of Waaree Energies Limited, is engaged in the development and implementation of renewable energy projects. The company's commitment to executing large-scale solar projects underscores its significant role in India's growing renewable energy sector.

Market Implications

This expansion in project scope and subsequent increase in order value is likely to be viewed positively by investors and industry analysts. It demonstrates WRTL's capability to handle large-scale projects and suggests growing demand in the renewable energy sector.

As the renewable energy market in India continues to expand, companies like Waaree Renewable Technologies are well-positioned to capitalize on the increasing demand for solar power solutions. This latest development reinforces WRTL's strong market presence and its potential for future growth in the renewable energy space.

Waaree Renewable Technologies Limited , a leading player in India's renewable energy sector, has reported robust financial results for the first quarter, showcasing significant growth across key metrics.

Strong Financial Performance

The company's revenue soared to INR 603.19 crores in Q1, marking a remarkable 155.20% year-on-year growth. This surge in revenue was accompanied by substantial improvements in other financial indicators:

• EBITDA increased by 186.14% to INR 117.54 crores
• Profit After Tax (PAT) surged by 206.77% to INR 86.39 crores
• Earnings Per Share (EPS) grew to INR 8.29, up from INR 2.72 in the same quarter last year

Operational Highlights

During the quarter, Waaree Renewable Technologies executed 699 MWp of EPC (Engineering, Procurement, and Construction) projects, demonstrating its strong execution capabilities. The company maintains a robust unexecuted order book of 3.15 GWp, providing visibility for future growth.

Expanding into New Technologies

Waaree Renewable Technologies is strategically expanding its portfolio to include Battery Energy Storage Systems (BESS). The company has secured 40 MWh worth of BESS orders in its current order book, positioning itself to capitalize on the growing demand for energy storage solutions in India's renewable energy landscape.

Management Commentary

Management expressed confidence in maintaining EBITDA margins in the 14-16% range, reflecting the company's focus on operational efficiency. The company is actively pursuing a substantial 25 GW order pipeline, indicating strong growth prospects in the coming quarters.

Diversification Strategy

In addition to its core solar EPC business, Waaree Renewable Technologies is exploring opportunities in green hydrogen and data center EPC projects. This diversification strategy aims to leverage the company's expertise in renewable energy infrastructure to tap into emerging sectors.

Industry Tailwinds

The company's growth is supported by favorable industry trends. As of June 2025, India's renewable energy capacity reached 234 GW, with solar contributing 116.25 GW. This rapid expansion of the renewable energy sector in India aligns with the government's ambitious clean energy targets and provides a conducive environment for companies like Waaree Renewable Technologies to thrive.

Financial Table

Waaree Renewable Technologies' strong Q1 performance, coupled with its strategic expansion into BESS and other emerging technologies, positions the company well to capitalize on India's growing renewable energy market. The substantial order book and robust pipeline suggest continued growth momentum in the coming quarters.